Huawei takes out US$1.5 billion loan from only Chinese banks - report

Follows reports of extensive job cuts in US.
Huawei, US, Tech, Business, China


Nighttime crowds in Chiwan, China. Photo credit: Ben Mack

Reports from Bloomberg and other outlets say Huawei has taken out a loan worth about US$1.5 billion. What's unusual about the loan, the reports suggest, is it involves only Chinese banks.

Huawei has been under fire in recent months in Western nations for alleged ties to the Chinese government and military.

Huawei has denied the charges.

The reports of the loan also come as Huawei is reportedly planning extensive job cuts in the United States.

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